Welcome to our dedicated page for Exxon Mobil Corporation news (Ticker: XOM), a resource for investors and traders seeking the latest updates and insights on Exxon Mobil Corporation stock.
Exxon Mobil Corporation, trading under the symbol XOM, is an American multinational oil and gas giant, and the largest direct descendant of John D. Rockefeller's Standard Oil. As an integrated oil and gas company, ExxonMobil is involved in the exploration, production, and refining of oil worldwide.
In 2023, ExxonMobil reported daily production of 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas. By the end of the same year, the company's reserves stood at 16.9 billion barrels of oil equivalent, with 66% comprising liquids. The company also boasts a global refining capacity of 4.5 million barrels of oil per day, making it one of the largest refiners and a leading manufacturer of commodity and specialty chemicals.
ExxonMobil continuously engages in numerous projects and partnerships aimed at maintaining and enhancing its operations. The company's financial health remains robust, supported by its extensive reserve base and large-scale operations across various segments of the oil and gas industry.
For more detailed and up-to-date information on ExxonMobil's latest news and developments, visit the StockTitan website.
Imperial (TSE: IMO, NYSE American: IMO) has released its 2025 corporate guidance, projecting capital expenditures of $1.9-2.1 billion. The company forecasts upstream production growth to 433,000-456,000 barrels per day, with Kearl production expected at 280,000-290,000 bbl/d, Cold Lake at 150,000-160,000 bbl/d, and Syncrude at 75,000-80,000 bbl/d.
Downstream operations anticipate refinery throughput of 405,000-415,000 barrels per day with utilization rates of 94-96%. The company plans turnarounds at all refineries in 2025, with lower expected impacts compared to 2024. The Strathcona Renewable Diesel project is scheduled to start around mid-year, enhancing product sales and network flexibility.
ExxonMobil unveiled its Corporate Plan to 2030, projecting an additional $20 billion in earnings and $30 billion in cash flow. The plan includes increasing Pioneer acquisition synergies to over $3 billion, growing new business earnings to $3 billion, and adding $7 billion in structural cost savings. The company aims to increase Upstream production to 5.4 million oil-equivalent barrels per day, with over 60% from advantaged assets.
Key investments include $27-29 billion cash capex in 2025 and $28-33 billion annually in 2026-2030. The company plans to pursue up to $30 billion in lower emissions investments and expects to maintain its $20 billion annual share repurchase program through 2026.
ExxonMobil announced key leadership changes, with Liam M. Mallon, president of ExxonMobil Upstream Company, set to retire on February 1, 2025, after 34 years of service. Dan L. Ammann will succeed Mallon as president of Upstream Company, while maintaining his role as vice president. Additionally, Barry L. Engle has been appointed president of Low Carbon Solutions and vice president effective January 1, 2025. Ammann joined ExxonMobil in 2022 from Cruise/GM, while Engle, who joined in September 2024, brings three decades of automotive industry experience.
Imperial Oil has announced it will host its 2025 corporate guidance outlook call and presentation on Thursday, December 12. The event, starting at 9 a.m. MT, will be led by chairman, president and CEO Brad Corson and vice-president of investor relations Peter Shaw. The presentation will include brief remarks followed by a Q&A session with covering analysts. The webcast will be available for one year on Imperial's website, with alternative access through SEDAR+ if technical difficulties arise with the EDGAR system.
ExxonMobil (NYSE: XOM) announces plans to invest over $200 million to expand advanced recycling operations at Baytown and Beaumont, Texas. The expansion will add 350 million pounds per year of recycling capacity, bringing total capacity to 500 million pounds annually. The company aims to reach 1 billion pounds of global recycling capacity by 2027 through additional projects in North America, Europe, and Asia. The Baytown facility, operational since 2022, has already processed over 70 million pounds of plastic waste. The new operations are expected to start in 2026, serving customers in more than 15 countries across multiple sectors.
ExxonMobil (NYSE: XOM) and LG Chem have signed a non-binding MOU for a lithium carbonate offtake agreement of up to 100,000 metric tons. The lithium will be supplied from ExxonMobil's planned U.S. project to LG Chem's Tennessee cathode plant, expected to be the largest in the U.S. with an annual capacity of 60,000 tons. The project will utilize Direct Lithium Extraction (DLE) technology, promising approximately two-thirds less carbon intensity than hard rock mining. The final investment decision depends on establishing commercially competitive regulatory frameworks.
Imperial Oil has declared a quarterly dividend of 60 cents per share for the fourth quarter of 2024, maintaining the same level as the third quarter. The dividend will be payable on January 1, 2025, to shareholders of record as of December 3, 2024. As Canada's largest petroleum refiner, Imperial has maintained a consistent dividend payment record for over 100 years, with 30 consecutive years of annual dividend increases.
Imperial reported Q3 2024 net income of $1,237 million, down from $1,601 million in Q3 2023. The company achieved record upstream production of 447,000 gross oil-equivalent barrels per day, the highest third quarter in over 30 years. Kearl production matched its highest-ever Q3 at 295,000 barrels per day. Cold Lake production reached 147,000 barrels per day, boosted by Grand Rapids project. Refinery utilization was 90% amid planned turnarounds. The company returned $1,528 million to shareholders through $322 million in dividends and $1,206 million in share repurchases.
ExxonMobil (XOM) reported third-quarter 2024 earnings of $8.6 billion, or $1.92 per share. The company achieved its highest liquids production in over 40 years at 3.2 million barrels per day and delivered record high-value product sales volumes, up 10% year-to-date. Cash flow from operating activities was $17.6 billion with free cash flow of $11.3 billion. The company returned $9.8 billion to shareholders and increased its fourth-quarter dividend by 4% to $0.99 per share. Year-to-date earnings were $26.1 billion, down from $28.4 billion in 2023, mainly due to lower refining margins and natural gas prices.
ExxonMobil (NYSE: XOM) has announced the release date for its third quarter 2024 financial results. The company will issue a press release on Friday, November 1, 2024, at 5:30 a.m. CT, available at investor.exxonmobil.com. A live conference call will be held at 8:30 a.m. CT, featuring:
- Darren Woods, Chairman and CEO
- Kathy Mikells, Senior VP and CFO
- Jim Chapman, VP, Treasurer and Investor Relations
Investors can access the call via webcast or by calling (877) 400-0505 (Toll-free) or (786) 789-4835 (Local), using passcode 3923895. An archive replay and presentation materials will be available on the investor website after the call.
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